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Three quarters of drivers mistakenly think third party insurance is always cheaper

Three quarters (72%) of drivers mistakenly believe third party cover is always cheaper than fully comprehensive policies[1]

Motorists who only search for third party policies potentially over pay by £929[2]

A third (37%) of those searching for third party cover do not search the whole market[3]

uSwitch.com introduces new search function which allows drivers to select all types of cover, ensuring customers who search for third party policies will not miss out if a fully comprehensive policy is cheaper.

Motorists could be overpaying for their car insurance by as much as £929 by only searching for third party policies, according to the latest research from uSwitch.com, the price comparison and switching service[2].

Nearly three quarters (72%) of drivers mistakenly believe third party motor insurance is always cheaper than fully comprehensive cover, meaning thousands could be overpaying on their insurance policies[1].

Overall, a third (37%) of drivers who search for third party policies are potentially losing out because they do not search all policy types and may be paying higher premiums for less cover[3].

To ensure that motorists don’t lose out any longer, uSwitch.com has set up a new search function which gives drivers the option to list all car insurance cover options when running a search. By allowing drivers to view all the fully comprehensive and third party policies available in one list, they will see the cheapest cover available to them irrespective of policy type.

So far, more than half (54%) of customers who have used the new search function were able to find a cheaper policy, and on average saved £860 compared to the price they would have paid if they had only searched for a third party policy[4].

This saving is even more pronounced for younger drivers. Traditionally they have favoured third party policies, with the data revealing that motorists aged 17-24 are nearly five times more likely to search for third party cover only when compared to the over 55s[5].

However, the average third party quote for younger drivers is a staggering £3,529. The average fully comprehensive policy for those searching both policy types was over £1,400 cheaper, at £2,125[6].

In addition, older drivers can save nearly 50% on their premiums, by opting for fully comprehensive cover, rather than third party[7].

Sabrina Webb, car insurance expert at uSwitch.com, says, “Every year, drivers could be missing out on huge savings when they insure their cars, as three quarters mistakenly believe that third party cover is always cheaper than a fully comprehensive policy.

“To help motorists get the best deal on their car insurance, all customers looking for third party cover who use our new online search function will be able to see the full range of options available. This means no one needs to overpay on their car insurance.”

Notes to editors

In a survey of 10,038 consumers conducted in 2016, when asked “Which of the following motor insurance policies do you think would be most expensive?”, 72% said ‘Fully comprehensive’.

Average saving of uSwitch.com consumers who searched for both a third party and fully comprehensive policy.

com consumer data based on number of drivers searching for a third party and fully comprehensive policy in August 2017.

com customers who used the new searched function saved on average £860.

com consumer data based on number of drivers aged 17-24 and 55+ searching for a third party and fully comprehensive policy in August 2017.

com consumer data based on drivers searching for a third party and fully comprehensive policy in August 2017. Motorists aged 17-24 who searched for fully comprehensive cover received an average quote of £2,125.54. If subtracted from £3,529.30, the average quote for third party cover for this age group, this equals a saving of £1,403.76.

com consumer data based on number of drivers searching for a third party and fully comprehensive policy in August 2017. Consumers aged 55+ searching for third party only cover received an average quote of £1,087.08. When the same age group’s search included fully comprehensive cover, the average quote was £566.83.

About us

uSwitch is an online and telephone price comparison and switching service, helping consumers get a better deal on gas, electricity, home phone, broadband, digital television, mobile phones and personal finance products including mortgages, credit cards, current accounts and insurance.

uSwitch customers have the option to create an account which will prompt them when their current broadband, credit card, energy, insurance and mobile deals are coming to an end. For energy customers, the account can also automatically monitor the market and notify them when they can move to a cheaper tariff - making future comparisons even simpler and faster. In 2016, uSwitch saved UK consumers over £320m on their energy bills alone.

Broadband customers can conduct a speed test to find out how fast their broadband is and to identify the best broadband provider for their postcode.

The uSwitch mobile app allows customers to compare energy and broadband deals. Energy customers can compare deals in seconds by scanning the QR code on their energy bill. The app won 'Most Innovative Use of Mobile' and the 'Chairman's Award' at The DRUM Marketing on Mobile Awards 2017. Consumers voted it Most Popular Website (Comparison category) in the Website of the Year Awards 2016.

uSwitch was the first comparison site to achieve the Plain English Campaign’s Internet Crystal Mark, recognising that it has clear language, is accessible and easy to use.

uSwitch has a UK contact centre which is manned by energy and broadband experts. The ‘Send Us Your Bill’ service allows customers to post their latest energy bills to FREEPOST USWITCH in order to receive a free call back to be guided through the comparison process. Alternatively, consumers can email customerservices@uswitch.com with their postcode and usage details. uSwitch’s address is The Cooperage, 5 Copper Row, London, SE1 2LH.

uSwitch is owned by ZPG Plc (LSE:ZPG), owner of some of the UK’s most trusted home-related digital platforms including Hometrack, Money.co.uk, PrimeLocation, Property Software Group and Zoopla.

Meet our expert

Sabrina Webb

Insurance Expert

Sabrina's passion lies with helping consumers navigate their way through the intricacies and confusion sometimes associated with buying car insurance. She uses a combination of data, trends and analysis to understand what motorists need and want when it comes to insuring their cars. In her five years at uSwitch, Sabrina has developed a keen eye for a good deal and a comprehensive knowledge of the car insurance industry.

She has a background in digital communication which she uses to help educate consumers and give them the power to make informed decisions that are right for their circumstances.

uSwitch Limited is authorised and regulated by the Financial Conduct Authority (FCA) under firm reference number 312850. You can check this on the Financial Services Register by visiting the FCA website.